Park Ohio Industries 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	PARK OHIO INDUSTRIES INC/OH
Entity Central Index Key	1,068,148
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		100

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 72.6	$ 54.4	$ 49.5	$ 48.4
Accounts receivable, net	231.4	194.4
Inventories, net	268.3	240.6
Receivable from affiliates	17.2	12.8
Other current assets	70.3	53.3
Total current assets	659.8	555.5
Property, plant and equipment, net	173.7	169.6
Goodwill	92	86.6
Intangible assets, net	97.5	96.6
Other long-term assets	79.3	71.3
Total assets	1,102.3	979.6
Current liabilities:
Trade accounts payable	169.4	133.7
Payable to affiliates	7.1	7
Current portion of long-term debt and short-term debt	18.1	30.8
Accrued expenses and other	89.2	78.6
Total current liabilities	283.8	250.1
Long-term liabilities, less current portion:
Debt	492.3	439
Deferred income taxes	29	29
Other long-term liabilities	21.3	29.8
Total long-term liabilities	542.6	497.8
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	265.5	221.7
Noncontrolling interests	10.4	10
Total equity	275.9	231.7
Total liabilities and shareholder's equity	$ 1,102.3	$ 979.6

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 352.2		$ 312.7		$ 1,046.9	$ 970.1
Cost of sales	295		258.4		873.9	813.7
Gross profit	57.2		54.3		173	156.4
Selling, general and administrative expenses	36.2		33.2		108.8	99
Litigation settlement gain	0	$ (3.3)	0		(3.3)	0
Asset impairment charge	0		0	$ 4	0	4
Operating income (loss)	21		21.1		67.5	53.4
Interest expense	7.8		7.2		23.1	21.3
Loss on extinguishment of debt	0		0		11	0
Income (loss) before income taxes	13.2		13.9		33.4	32.1
Income tax expense	2.8		0		9.6	6.1
Net income (loss)	10.4		13.9		23.8	26
Net income attributable to noncontrolling interests	(0.2)		(0.3)		(0.7)	(0.3)
Net income attributable to Park-Ohio Industries Inc. common shareholder	$ 10.2		$ 13.6		$ 23.1	$ 25.7

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 10.4	$ 13.9	$ 23.8	$ 26
Other comprehensive income (loss):
Foreign currency translation adjustment	7.5	(1.3)	18.9	(5.3)
Pension and other postretirement benefit adjustments, net of tax	0.2	0.3	0.6	0.7
Total other comprehensive income (loss)	7.7	(1)	19.5	(4.6)
Total comprehensive income, net of tax	18.1	12.9	43.3	21.4
Comprehensive income attributable to noncontrolling interests	(0.2)	(0.3)	(0.7)	(0.3)
Comprehensive income attributable to Park-Ohio Industries Inc. common shareholder	$ 17.9	$ 12.6	$ 42.6	$ 21.1

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net income	$ 23.8	$ 26
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization	23.5	22.3
Loss on extinguishment of debt	11	0
Litigation settlement gain	(3.3)	0
Asset impairment charge	0	4
Share-based compensation expense	6.3	8.1
Changes in operating assets and liabilities:
Accounts receivable	(29.9)	(1.6)
Inventories	(15.7)	(3.5)
Other current assets	(14.2)	(5.4)
Accounts payable and accrued expenses	34.5	1.8
Litigation settlement payment	(4)	0
Other	(8.7)	(11.9)
Net cash provided by operating activities	23.3	39.8
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(18.9)	(20.3)
Business acquisition	(10.5)	0
Net cash used by investing activities	(29.4)	(20.3)
FINANCING ACTIVITIES
Payments on revolving credit facility, net	(32.5)	(17.4)
Payments on term loans and other debt	(27.7)	(3.4)
Proceeds from term loans and other debt	0	7.3
Proceeds from (payments on) capital lease facilities, net	0.1
Proceeds from (payments on) capital lease facilities, net		(2.5)
Issuance of 6.625% Senior Notes due 2027	350	0
Debt financing costs	(7.5)	0
Repurchase of 8.125% Senior Notes due 2021	(250)	0
Premium on early extinguishment of debt	(8)	0
Payment of acquisition earn-out	0	(2)
Dividend paid to Parent	(5)	0
Dividend	(0.2)	0
Net cash provided (used) by financing activities	19.2	(18)
Effect of exchange rate changes on cash	5.1	(0.4)
Increase (decrease) in cash and cash equivalents	18.2	1.1
Cash and cash equivalents at beginning of period	54.4	48.4
Cash and cash equivalents at end of period	72.6	49.5
Income taxes paid	1.6	7
Interest paid	$ 16.5	$ 14.7

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - Senior Notes	Sep. 30, 2017	Apr. 17, 2017
Stated interest rate	8.125%	8.125%
Senior Notes 6.625% Due 2027
Stated interest rate	6.625%

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Park-Ohio Industries, Inc. and its subsidiaries (collectively, “we”, “our” or the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. Park-Ohio Industries, Inc. is a wholly-owned subsidiary of Park-Ohio Holdings Corp. (“Holdings”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three- and nine -month periods ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . The balance sheet at December 31, 2016 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 . The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Pronouncements Adopted In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU simplifies several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification of related amounts within the statement of cash flows. The Company adopted this ASU effective January 1, 2017. ASU 2016-09 requires prospective recognition of excess tax benefits and deficiencies resulting from share-based compensation awards vesting and exercises be recognized as a discrete income tax adjustment in the income statement. Previously, these amounts were recognized in Additional paid-in capital. In the nine months ended September 30, 2017, the Company recognized income tax expense of $0.1 million for excess tax deficiencies upon vesting of awards. In addition, ASU 2016-09 requires excess tax benefits and shortfalls to be prospectively excluded from the assumed future proceeds in the calculation of diluted shares, resulting in an insignificant increase in diluted weighted average shares outstanding for the nine months ended September 30, 2017 and an immaterial impact on earnings per share. ASU 2016-09 also requires that excess tax benefits from share-based compensation awards be reported as operating activities in the Condensed Consolidated Statements of Cash Flows. Previously, this activity was included in financing activities on the Condensed Consolidated Statements of Cash Flows. The Company has elected to apply this change on a prospective basis. This change has an immaterial impact on our Condensed Consolidated Statements of Cash Flows. Also, we elected to continue to estimate forfeitures rather than account for them as they occur. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendments in the ASU simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. The ASU is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company early adopted this guidance for any impairment test performed after January 1, 2017. Recent Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The ASU will require either retrospective application to each prior reporting period presented or modified retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is in the process of analyzing the impact of ASU 2014-09, and the related ASUs, across all its businesses. This includes performing contract reviews and reviewing current accounting policies and practices to identify potential differences that would result from applying the requirements under the new standard. The Company expects to adopt the new standard using the modified retrospective approach, under which the cumulative effect of initially applying the new guidance is recognized as an adjustment to the opening balance of retained earnings upon adoption effective January 1, 2018. We are still evaluating the impact and an estimation of the impact cannot be made at this time. In addition, the standard requires new substantial disclosures and we continue to evaluate these requirements. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amendments in the ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The FASB also is addressing measurement of credit losses on financial assets in a separate project. The ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is not permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance. In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” The ASU establishes a comprehensive new lease accounting model. The new standard: (a) clarifies the definition of a lease; (b) requires a dual approach to lease classification similar to current lease classifications; and (c) causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases with a lease term of more than twelve months. The ASU is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. The Company is currently evaluating the impact of adopting this guidance. In March 2017, the FASB issued ASU 2017-07 “Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The Company is planning to adopt this standard in the first quarter of 2018. The Company is currently evaluating the impact of adopting this guidance. No other recently issued ASUs are expected to have a material impact on our results of operations, financial condition or liquidity.

Segments

Segments	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segments	Segments Our operating segments are defined as components of the enterprise for which separate financial information is available and evaluated on a regular basis by our chief operating decision maker to allocate resources and assess performance. For purposes of measuring business segment performance, the Company utilizes segment operating income, which is defined as revenues less expenses identifiable to the product lines within each segment. The Company does not allocate items that are non-operating; unusual in nature; or are corporate costs, which include but are not limited to executive and share-based compensation and corporate office costs. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs, certain non-cash items and interest expense. Results by business segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In millions) Net sales: Supply Technologies $ 140.2 $ 122.0 $ 415.8 $ 384.8 Assembly Components 127.9 133.4 393.2 399.4 Engineered Products 84.1 57.3 237.9 185.9 $ 352.2 $ 312.7 $ 1,046.9 $ 970.1 Segment operating income: Supply Technologies $ 10.9 $ 9.7 $ 34.6 $ 30.8 Assembly Components 11.4 13.9 37.0 38.3 Engineered Products 6.0 4.0 13.5 8.6 Total segment operating income 28.3 27.6 85.1 77.7 Corporate costs (7.3 ) (6.5 ) (20.9 ) (20.3 ) Litigation settlement gain — — 3.3 — Asset impairment charge — — — (4.0 ) Operating income 21.0 21.1 67.5 53.4 Interest expense (7.8 ) (7.2 ) (23.1 ) (21.3 ) Loss on extinguishment of debt — — (11.0 ) — Income before income taxes $ 13.2 $ 13.9 $ 33.4 $ 32.1

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions In April 2017, the Company, through its wholly-owned subsidiary Apollo Aerospace Components, completed the acquisition of Aero-Missile Components Inc. (“AMC”) for $10.5 million in cash. AMC is a supply chain management business providing high-quality specialty fasteners and other components to the defense and aerospace markets. The results of AMC are included in the Supply Technologies segment from the date of acquisition. As of September 30, 2017, the Company recorded goodwill of $2.1 million related to this transaction. In December 2016, the Company acquired all the outstanding capital stock of GH Electrotermia S.A. (“GH”), headquartered in Valencia, Spain, for $23.4 million in cash (net of $6.3 million cash acquired), plus the assumption of $13.9 million in debt. During the third quarter 2017, the Company revised its initial estimated fair values for certain property, plant and equipment, intangibles and other assets and liabilities. The impact of the revisions made in the third quarter 2017 is immaterial to the consolidated balance sheet and results of operations for the three and nine months ended September 30, 2017. The Company expects to finalize its valuation of real property and income taxes in the fourth quarter of 2017. The purchase agreement stipulates potential contingent consideration of up to $2.1 million based on achievement of certain EBITDA targets for 2016 and 2017. The EBITDA target for 2016 was not achieved. The estimated fair value of the contingent consideration, valued using level 3 inputs, was approximately $0.4 million as of September 30, 2017.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventory consist of the following: September 30, 2017 December 31, 2016 (In millions) Finished goods $ 150.3 $ 131.4 Work in process 47.1 43.4 Raw materials and supplies 70.9 65.8 Inventories, net $ 268.3 $ 240.6

Accrued Warranty Costs

Accrued Warranty Costs	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Accrued Warranty Costs	Accrued Warranty Costs The Company estimates warranty claims on products sold that may be incurred based on current and historical data. Actual warranty expense could differ from the estimates made by the Company based on product performance. The following table presents changes in the Company’s product warranty liability for the nine months ended September 30, 2017 and 2016 : 2017 2016 (In millions) January 1 $ 7.1 $ 6.1 Claims paid (3.0 ) (1.7 ) Warranty expense, net 3.6 1.1 September 30 $ 7.7 $ 5.5

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s tax provision for interim periods is determined using an estimate of its annual effective income tax rate, adjusted for discrete items, if any, in each period. Each quarter, the Company updates its estimated annual effective income tax rate, and if the estimated income tax rate changes, a cumulative adjustment is made. The effective income tax rates for the first nine months of 2017 and 2016 were 28.7% and 19.0% , respectively. The rates for both periods reflect the reversal of various income tax accruals, totaling $1.4 million in 2017 and $4.0 million in 2016, relating to previous uncertain tax positions for which the statutes of limitations expired. The Company recognizes accrued interest and penalties related to uncertain tax positions in income tax expense.

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements Long-term debt consists of the following: Carrying Value at Maturity Date Interest Rate at September 30 2017 September 30, 2017 December 31, 2016 (In millions) Senior Notes due 2027 April 15, 2027 6.625 % $ 350.0 $ — Senior Notes due 2021 April 1, 2021 8.125 % — 250.0 Revolving credit facility April 17, 2022 3.08 % 100.3 132.8 Term Loan — 23.4 Industrial Equipment Group European Facilities December 21, 2021 3.25 % 28.0 26.4 Capital Leases Various Various 18.9 18.8 Other Various Various 22.1 23.6 Gross debt 519.3 475.0 Less current portion of long-term debt (14.2 ) (25.8 ) Less short-term debt (3.9 ) (5.0 ) Less unamortized debt issuance costs (8.9 ) (5.2 ) Total long-term debt, net $ 492.3 $ 439.0 On April 17, 2017, the Company completed the issuance, in a private placement, of $350.0 million aggregate principal amount of 6.625% Senior Notes due 2027 (the “Notes”). Interest on the Notes is payable semi-annually in arrears on April 15 and October 15 of each year, commencing on October 15, 2017, and the Notes mature on April 15, 2027. The Notes are unsecured senior obligations of the Company and are guaranteed on an unsecured senior basis by the material domestic subsidiaries of the Company. Proceeds from the Notes issuance were used to repay in full the previously-outstanding 8.125% Senior Notes due 2021 in the aggregate principal amount of $250.0 million , the term loan and a portion of the borrowings outstanding under the revolving credit facility. On April 17, 2017, the Company also entered into a seventh amended and restated credit agreement (the “Amended Credit Agreement”) with a group of banks to increase the revolving credit facility to $350.0 million and extend the maturity date of borrowings under the facility to April 17, 2022. Furthermore, the Company has the option, pursuant to the Amended Credit Agreement, to increase the availability under the revolving credit facility by an aggregate incremental amount up to $100.0 million. In connection with the April 2017 repurchase of Senior Notes due 2021 and amendment of our credit agreement, we recorded an $11.0 million loss on extinguishment of debt, representing premiums paid on early extinguishment of $8.0 million , the write-off of unamortized prior debt issuance costs of $2.5 million , and related fees and expenses of $0.5 million . On December 21, 2016, the Company, through its subsidiary, IEGE Industrial Equipment Holding Company Limited, entered into a financing agreement with Banco Bilbao Vizcaya Argentaria, S.A. The financing agreement provides the Company a loan up to $28.0 million as of September 30, 2017, as well as a revolving credit facility for up to $11.8 million to fund working capital and general corporate needs. The full $28.0 million loan is outstanding as of September 30, 2017 . No amounts have been drawn on the revolving credit facility as of September 30, 2017 . On August 13, 2015, the Company entered into a Capital Lease Agreement (the “Lease Agreement”). The Lease Agreement provides the Company up to $50.0 million for capital leases. Capital lease obligations of $18.9 million were borrowed under the Lease Agreement to acquire machinery and equipment as of September 30, 2017 . On October 21, 2015, the Company, through its Southwest Steel Processing LLC subsidiary, entered into a financing agreement with the Arkansas Development Finance Authority. The financing agreement provides the Company the ability to borrow up to $11.0 million for expansion of its manufacturing facility in Arkansas. The financing agreement matures in September 2025. The Company had $5.6 million of borrowings outstanding under this agreement as of September 30, 2017 , which is included in Other above. The following table represents fair value information of the Notes, classified as Level 1 using estimated quoted market prices. September 30, 2017 (In millions) Carrying amount $ 350.0 Fair value $ 378.9

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation A summary of Holdings' stock option activity for the nine months ended September 30, 2017 is as follows: 2017 Number of Shares Weighted Average (In whole shares) Outstanding - beginning of year 38,000 $ 19.30 Granted — — Exercised (24,907 ) 21.22 Canceled or expired — — Outstanding - end of period 13,093 15.61 Options exercisable 13,093 $ 15.61 A summary of Holdings' restricted share activity for the nine months ended September 30, 2017 is as follows: 2017 Time-Based Performance-Based Number of Shares Weighted Average Number of Shares Weighted Average (In whole shares) (In whole shares) Outstanding - beginning of year 216,916 $ 36.94 165,000 $ 34.78 Granted 104,670 38.41 165,000 38.10 Vested (89,404 ) 44.39 (55,000 ) 34.78 Performance-based to time-based (a) 110,000 34.78 (110,000 ) 34.78 Canceled or expired (2,000 ) 37.87 — — Outstanding - end of period 340,182 $ 34.73 165,000 $ 38.10 (a) During the first quarter of 2017, 55,000 of the performance-based restricted shares granted in 2016 fully vested based on the achievement of the performance criteria. In accordance with the grant agreements, the remaining 110,000 shares became time-based, vesting over the remaining two years of the requisite service period. Total stock-based compensation expense included in selling, general and administrative expenses during the first nine months of 2017 and 2016 was $6.3 million and $8.1 million , respectively. As of September 30, 2017 , there was $11.4 million of unrecognized compensation cost related to non-vested stock-based compensation, which cost is expected to be recognized over a weighted-average period of 1.8 years.

Commitments, Contingencies and

Commitments, Contingencies and Litigation Settlement	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Litigation Settlement	Commitments, Contingencies and Litigation Settlement The Company is subject to various pending and threatened legal proceedings arising in the ordinary course of business. The Company records a liability for loss contingencies in the consolidated financial statements when a loss is known or considered probable and the amount can be reasonably estimated. Our provisions are based on historical experience, current information and legal advice, and they may be adjusted in the future based on new developments. Estimating probable losses requires the analysis of multiple forecasted factors that often depend on judgments and potential actions by third parties. Although it is not possible to predict with certainty the ultimate outcome or cost of these matters, the Company believes they will not have a material adverse effect on our consolidated financial statements. IPSCO Tubulars Inc. d/b/a TMK IPSCO sued Ajax Tocco Magnethermic Corporation (“ATM”), a subsidiary of the Company, in the United States District Court for the Eastern District of Arkansas claiming that equipment supplied by ATM for heat treating certain steel pipe at IPSCO's Blytheville, Arkansas facility did not perform as required by the contract. The complaint alleged causes of action for breach of contract, gross negligence and constructive fraud. IPSCO sought approximately $10.0 million in damages plus an unspecified amount of punitive damages. In September 2013, the district court issued a judgment in favor of IPSCO in the amount of $5.2 million , which the Company recognized and accrued for at that time. In March 2016, the district court issued an order granting, in part, IPSCO's motion for fees and costs and awarding $2.2 million to IPSCO, which the Company accrued for as of December 31, 2015. ATM filed a third appeal of that decision. On March 28, 2017, the Company and IPSCO agreed to a settlement and release of all claims for the payment by the Company of $4.0 million to IPSCO, which was made in March 2017. As of the settlement date, the Company had $7.3 million accrued for this matter. The Company reversed the excess liability and recognized $3.3 million in income in the first quarter of 2017. Our subsidiaries are involved in a number of contractual and warranty related disputes. We believe that appropriate liabilities for these contingencies have been recorded; however, actual results may differ materially from our estimates. In August 2013, the Company received a subpoena from the staff of the Securities and Exchange Commission (“SEC”) in connection with the staff’s investigation of a third party. At that time, the Company also learned that the U.S. Department of Justice (“DOJ”) is conducting a criminal investigation of the third party. In connection with its initial response to the staff’s subpoena, the Company disclosed to the staff of the SEC that, in November 2007, the third party participated in a payment on behalf of the Company to a foreign tax official that implicates the Foreign Corrupt Practices Act. The Board of Directors of the Company formed a special committee to review the Company’s transactions with the third party and to make any recommendations to the Board of Directors with respect thereto. The Company intends to cooperate fully with the SEC and the DOJ in connection with their investigations of the third party and with the SEC in light of the Company’s disclosure. The Company is unable to predict the outcome or impact of the special committee’s investigation or the length, scope or results of the SEC’s review or the impact on its results of operations.

Pension and Postretirement Bene

Pension and Postretirement Benefits	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Pension and Postretirement Benefits	Pension and Postretirement Benefits The components of net periodic benefit (income) costs recognized during interim periods were as follows: Pension Benefits Postretirement Benefits Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 2017 2016 2017 2016 (In millions) Service costs $ 0.6 $ 0.6 $ 1.9 $ 1.8 $ — $ — $ — $ — Interest costs 0.4 0.5 1.3 1.4 0.1 0.1 0.2 0.3 Expected return on plan assets (2.4 ) (2.3 ) (7.2 ) (7.1 ) — — — — Recognized net actuarial loss 0.3 0.3 0.9 0.9 — — 0.1 0.2 Net periodic benefit (income) costs $ (1.1 ) $ (0.9 ) $ (3.1 ) $ (3.0 ) $ 0.1 $ 0.1 $ 0.3 $ 0.5 Weighted average: Discount rate 3.91 % 4.13 % 3.63 % 3.80 % Expected return on plan assets 8.25 % 8.25 %

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of and changes in accumulated other comprehensive loss for the nine months ended September 30, 2017 and 2016 were as follows: Cumulative Translation Adjustment Pension and Postretirement Benefits Total (In millions) January 1, 2017 $ (30.8 ) $ (11.9 ) $ (42.7 ) Foreign currency translation adjustments (a) 18.9 — 18.9 Pension and OPEB activity, net of tax adjustments (b) — 0.6 0.6 September 30, 2017 $ (11.9 ) $ (11.3 ) $ (23.2 ) January 1, 2016 $ (16.9 ) $ (13.1 ) $ (30.0 ) Foreign currency translation adjustments (a) (5.3 ) — (5.3 ) Pension and OPEB activity, net of tax adjustments (b) — 0.7 0.7 September 30, 2016 $ (22.2 ) $ (12.4 ) $ (34.6 ) (a) No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently re-invested. (b) The tax adjustments are reclassified out of accumulated other comprehensive income and included in income tax expense.

Asset Impairment

Asset Impairment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Asset Impairment	Asset Impairment In the first quarter of 2016, due to the accelerated end of production in certain programs with an automotive customer, the Company evaluated its long-lived assets in accordance with ASU 360, "Property, Plant and Equipment." As the carrying value of the assets exceeded the expected undiscounted cash flows, the Company estimated the fair value of these assets to determine whether impairment existed. The fair value of the assets was estimated, using Level 2 inputs, based on the expected sale proceeds of similar machinery and equipment as determined using third party quotes and appraisals. As a result of its analysis, the Company recorded an asset impairment charge of $4.0 million .

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2017
Supplemental Guarantor Information [Abstract]
Supplemental Guarantor Information	Supplemental Guarantor Information Each of the material domestic direct and indirect wholly-owned subsidiaries of the Company (the “Guarantor Subsidiaries”) has fully and unconditionally guaranteed, on a joint and several basis, to pay principal, premium, and interest with respect to the Company's Notes. Each of the Guarantor Subsidiaries is “100% owned,” as defined by Rule 3-10(h)(1) of Regulation S-X . The guarantee of a Guarantor Subsidiary will automatically terminate, and the obligations of such Guarantor Subsidiary under its guarantee of Notes will be released: (a) in the event of any sale or other disposition of all or substantially all of the assets or all of the capital stock of any Subsidiary Guarantor, by way of merger, consolidation or otherwise; (b) upon designation of any Subsidiary Guarantor as an “unrestricted subsidiary” (as defined in the indenture governing the Senior Notes (the “Indenture”); (c) upon defeasance or satisfaction and discharge of the Indenture; and (d) upon the release of such Subsidiary Guarantor's guarantees under all credit facilities of the Company (other than a release as a result of payment under or a discharge of such guarantee). The following supplemental condensed consolidating financial statements present condensed consolidating balance sheets as of September 30, 2017 and December 31, 2016 , condensed consolidating statements of income and other comprehensive income (loss) for the three and nine months ended September 30, 2017 and 2016 , condensed consolidating statements of cash flows for the nine months ended September 30, 2017 and 2016 , and reclassification and elimination entries necessary to consolidate the Parent and all of its subsidiaries. The condensed consolidating financial statements present investments in subsidiaries using the equity method of accounting. The “Parent” reflected in the accompanying supplemental guarantor information is the Company, who is also an obligor of the Notes. Condensed Consolidating Balance Sheets September 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 72.6 $ — $ 72.6 Accounts receivable, net — 150.6 80.8 — 231.4 Inventories, net — 190.2 78.1 — 268.3 Receivable from affiliates — — 17.2 — 17.2 Other current assets 0.6 40.2 29.5 — 70.3 Total current assets 0.6 381.0 278.2 — 659.8 Investments in subsidiaries 546.4 249.4 — (795.8 ) — Intercompany advances 300.1 83.0 107.2 (490.3 ) — Property, plant and equipment, net 6.1 101.5 66.1 — 173.7 Goodwill — 58.9 33.1 — 92.0 Intangible assets, net — 61.3 36.2 — 97.5 Other long-term assets 67.1 4.6 7.6 — 79.3 Total assets $ 920.3 $ 939.7 $ 528.4 $ (1,286.1 ) $ 1,102.3 LIABILITIES AND SHAREHOLDER'S EQUITY Current liabilities: Trade accounts payable $ — $ 122.8 $ 46.6 $ — $ 169.4 Payable to affiliates — — 7.1 — 7.1 Current portion of long-term and short-term debt — 6.6 11.5 — 18.1 Accrued expenses and other 13.4 35.0 40.8 — 89.2 Total current liabilities 13.4 164.4 106.0 — 283.8 Long-term liabilities, less current portion: Debt 442.7 10.6 39.0 — 492.3 Deferred income taxes — 19.4 9.6 — 29.0 Other long-term liabilities 15.2 1.0 5.1 — 21.3 Total long-term liabilities 457.9 31.0 53.7 — 542.6 Intercompany advances 173.1 226.6 90.6 (490.3 ) — Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity 265.5 517.7 267.7 (785.4 ) 265.5 Noncontrolling interests 10.4 — 10.4 (10.4 ) 10.4 Total equity 275.9 517.7 278.1 (795.8 ) 275.9 Total liabilities and equity $ 920.3 $ 939.7 $ 528.4 $ (1,286.1 ) $ 1,102.3 Condensed Consolidating Balance Sheets December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 54.4 $ — $ 54.4 Accounts receivable, net — 125.2 69.2 — 194.4 Inventories, net — 172.9 67.7 — 240.6 Receivable from affiliates — — 12.8 — 12.8 Other current assets 0.7 28.3 24.3 — 53.3 Total current assets 0.7 326.4 228.4 — 555.5 Investments in subsidiaries 492.8 213.8 — (706.6 ) — Intercompany advances 296.5 78.1 110.5 (485.1 ) — Property, plant and equipment, net 6.2 98.2 65.2 — 169.6 Goodwill — 56.8 29.8 — 86.6 Intangible assets, net — 64.8 31.8 — 96.6 Other long-term assets 62.8 4.5 4.0 — 71.3 Total assets $ 859.0 $ 842.6 $ 469.7 $ (1,191.7 ) $ 979.6 LIABILITIES AND SHAREHOLDER'S EQUITY Current liabilities: Trade accounts payable $ — $ 100.3 $ 33.4 $ — $ 133.7 Payable to affiliates — — 7.0 — 7.0 Current portion of long-term and short-term debt 13.2 6.4 11.2 — 30.8 Accrued expenses and other 10.5 36.8 31.3 — 78.6 Total current liabilities 23.7 143.5 82.9 — 250.1 Long-term liabilities, less current portion: Debt 389.2 12.2 37.6 — 439.0 Deferred income taxes — 20.4 8.6 — 29.0 Other long-term liabilities 16.1 8.5 5.2 — 29.8 Total long-term liabilities 405.3 41.1 51.4 — 497.8 Intercompany advances 198.3 192.2 94.6 (485.1 ) — Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity 221.7 465.8 230.8 (696.6 ) 221.7 Noncontrolling interests 10.0 — 10.0 (10.0 ) 10.0 Total equity 231.7 465.8 240.8 (706.6 ) 231.7 Total liabilities and shareholder's equity $ 859.0 $ 842.6 $ 469.7 $ (1,191.7 ) $ 979.6 Consolidating Statements of Income (Loss) Nine Months Ended September 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Net sales $ — $ 774.6 $ 272.3 $ — $ 1,046.9 Cost of sales — 660.1 213.8 — 873.9 Gross profit — 114.5 58.5 — 173.0 Selling, general and administrative expenses 19.5 55.7 33.6 — 108.8 Litigation settlement gain — (3.3 ) — — (3.3 ) Income (loss) from subsidiaries 75.4 16.1 — (91.5 ) — Operating income (loss) 55.9 78.2 24.9 (91.5 ) 67.5 Interest expense 21.1 — 2.0 — 23.1 Loss on debt extinguishment 11.0 — — — 11.0 Income (loss) before income taxes 23.8 78.2 22.9 (91.5 ) 33.4 Income tax expense — 4.0 5.6 — 9.6 Net income (loss) 23.8 74.2 17.3 (91.5 ) 23.8 Net (income) loss attributable to noncontrolling interests (0.7 ) — (0.7 ) 0.7 (0.7 ) Net income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 23.1 $ 74.2 $ 16.6 $ (90.8 ) $ 23.1 Other comprehensive income (loss) (see note 12): Net income (loss) $ 23.8 $ 74.2 $ 17.3 $ (91.5 ) $ 23.8 Foreign currency translation adjustment 18.9 — 18.9 (18.9 ) 18.9 Pension and OPEB activity, net of tax adjustments 0.6 0.6 — (0.6 ) 0.6 Comprehensive income (loss), net of tax 43.3 74.8 36.2 (111.0 ) 43.3 Comprehensive (income) loss attributable to noncontrolling interest (0.7 ) — (0.7 ) 0.7 (0.7 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 42.6 $ 74.8 $ 35.5 $ (110.3 ) $ 42.6 Consolidating Statements of Income (Loss) and Comprehensive Income (Loss) Nine Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Net sales $ — $ 751.7 $ 218.4 $ — $ 970.1 Cost of sales — 645.8 167.9 — 813.7 Gross profit — 105.9 50.5 — 156.4 Selling, general and administrative expenses 18.0 54.3 26.7 — 99.0 Asset impairment — 4.0 — — 4.0 Income (loss) from subsidiaries 64.2 13.9 — (78.1 ) — Operating income (loss) 46.2 61.5 23.8 (78.1 ) 53.4 Interest expense 20.2 — 1.1 — 21.3 Income (loss) before income taxes 26.0 61.5 22.7 (78.1 ) 32.1 Income tax (benefit) expense — (1.3 ) 7.4 — 6.1 Net income (loss) 26.0 62.8 15.3 (78.1 ) 26.0 Net income attributable to noncontrolling interests (0.3 ) — (0.3 ) 0.3 (0.3 ) Net income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 25.7 $ 62.8 $ 15.0 $ (77.8 ) $ 25.7 Other comprehensive income (loss) (see note 12): Net income (loss) $ 26.0 $ 62.8 $ 15.3 $ (78.1 ) $ 26.0 Foreign currency translation adjustment (5.3 ) — (5.3 ) 5.3 (5.3 ) Pension and OPEB activity, net of tax adjustments 0.7 0.4 — (0.4 ) 0.7 Comprehensive income (loss), net of tax 21.4 63.2 10.0 (73.2 ) 21.4 Comprehensive income attributable to noncontrolling interests (0.3 ) — (0.3 ) 0.3 (0.3 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 21.1 $ 63.2 $ 9.7 $ (72.9 ) $ 21.1 Consolidating Statement of Operations Three Months Ended September 30, 2017 Parent Eliminations Consolidated Net sales $ — $ 258.4 $ 93.8 $ — $ 352.2 Cost of sales — 220.6 74.4 — 295.0 Gross profit — 37.8 19.4 — 57.2 Selling, general and administrative expenses 7.0 18.4 10.8 — 36.2 Income (loss) from subsidiaries 24.6 6.8 — (31.4 ) — Operating income (loss) 17.6 26.2 8.6 (31.4 ) 21.0 Interest expense 7.2 — 0.6 — 7.8 Loss on extinguishment of debt — — — — — Income (loss) before income taxes 10.4 26.2 8.0 (31.4 ) 13.2 Income tax expense — 1.9 0.9 — 2.8 Net income (loss) 10.4 24.3 7.1 (31.4 ) 10.4 Net (income) loss attributable to noncontrolling interest (0.2 ) — (0.2 ) 0.2 (0.2 ) Net income(loss) attributable to Park-Ohio Industries Inc. common shareholder $ 10.2 $ 24.3 $ 6.9 $ (31.2 ) $ 10.2 Other comprehensive income (loss) (see note 12): Net income (loss) $ 10.4 $ 24.3 $ 7.1 $ (31.4 ) $ 10.4 Foreign currency translation adjustment 7.5 — 7.5 (7.5 ) 7.5 Pension and OPEB activity, net of tax adjustments 0.2 0.2 — (0.2 ) 0.2 Comprehensive income (loss), net of tax 18.1 24.5 14.6 (39.1 ) 18.1 Comprehensive (income) loss attributable to noncontrolling interest (0.2 ) — (0.2 ) 0.2 (0.2 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 17.9 $ 24.5 $ 14.4 $ (38.9 ) $ 17.9 Consolidating Statements of Income (Loss) and Comprehensive Income (Loss) Three Months Ended September 30, 2016 Parent Combined Combined Eliminations Consolidated Net sales $ — $ 242.1 $ 70.6 $ — $ 312.7 Cost of sales — 205.3 53.1 — 258.4 Gross profit — 36.8 17.5 — 54.3 Selling, general and administrative expenses 7.7 17.8 7.7 — 33.2 Income (loss) from subsidiaries 28.4 5.8 — (34.2 ) — Operating income (loss) 20.7 24.8 9.8 (34.2 ) 21.1 Interest expense 6.8 — 0.4 — 7.2 Income (loss) before income taxes 13.9 24.8 9.4 (34.2 ) 13.9 Income tax expense — (3.0 ) 3.0 — — Net income (loss) $ 13.9 $ 27.8 $ 6.4 $ (34.2 ) $ 13.9 Net income attributable to noncontrolling interest (0.3 ) — (0.3 ) 0.3 (0.3 ) Net income attributable to Park-Ohio Industries Inc. common shareholder $ 13.6 $ 27.8 $ 6.1 $ (33.9 ) $ 13.6 Other comprehensive income (loss) (see note 12): Net income (loss) $ 13.9 $ 27.8 $ 6.4 $ (34.2 ) $ 13.9 Foreign currency translation adjustment (1.3 ) — (1.3 ) 1.3 (1.3 ) Pension and OPEB activity, net of tax adjustments 0.3 — — — 0.3 Comprehensive income (loss), net of tax 12.9 27.8 5.1 (32.9 ) 12.9 Comprehensive income attributable to noncontrolling interest (0.3 ) — (0.3 ) 0.3 (0.3 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 12.6 $ 27.8 $ 4.8 $ (32.6 ) $ 12.6 Condensed Consolidating Statements of Cash Flows Nine Months Ended September 30, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) OPERATING ACTIVITIES Net cash (used) provided by operating activities $ (32.8 ) $ 36.2 $ 18.9 $ 1.0 $ 23.3 INVESTING ACTIVITIES Purchases of property, plant and equipment (0.3 ) (13.7 ) (4.9 ) — (18.9 ) Business acquisition — (10.5 ) — — (10.5 ) Net cash used in investing activities (0.3 ) (24.2 ) (4.9 ) — (29.4 ) FINANCING ACTIVITIES Intercompany account change 9.5 (10.6 ) 2.1 (1.0 ) — Payments on revolving credit facility, net (32.5 ) — — — (32.5 ) Payments on term loans and other debt (23.4 ) (0.4 ) (3.9 ) — (27.7 ) Proceeds from capital lease facilities, net — (1.0 ) 1.1 — 0.1 Issuance of 6.625% Senior Notes due 2027 350.0 — — — 350.0 Debt financing costs (7.5 ) — — — (7.5 ) Redemption of 8.125% Senior Notes due 2021 (250.0 ) — — — (250.0 ) Premium on early extinguishment of debt (8.0 ) — — — (8.0 ) Dividend paid to Parent (5.0 ) — — — (5.0 ) Dividend — — (0.2 ) — (0.2 ) Net cash provided (used) by financing activities 33.1 (12.0 ) (0.9 ) (1.0 ) 19.2 Effect of exchange rate changes on cash — — 5.1 — 5.1 Increase in cash and cash equivalents — — 18.2 — 18.2 Cash and cash equivalents at beginning of period — — 54.4 — 54.4 Cash and cash equivalents at end of period $ — $ — $ 72.6 $ — $ 72.6 Condensed Consolidating Statements of Nine Months Ended September 30, 2016 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) OPERATING ACTIVITIES Net cash (used) provided by operating activities $ (36.8 ) $ 81.5 $ 11.4 $ (16.3 ) $ 39.8 INVESTING ACTIVITIES Purchases of property, plant and equipment (0.1 ) (6.3 ) (13.9 ) — (20.3 ) Net cash used in investing activities (0.1 ) (6.3 ) (13.9 ) — (20.3 ) FINANCING ACTIVITIES Intercompany account change 57.7 (74.4 ) 0.4 16.3 — Payments on revolving credit facility, net (17.4 ) — — — (17.4 ) Payments on term loans and other debt (3.4 ) — — — (3.4 ) Proceeds from term loans and other debt — 1.3 6.0 — 7.3 Payments on capital leases, net — (2.2 ) (0.3 ) — (2.5 ) Payment of acquisition earn-out — — (2.0 ) — (2.0 ) Net cash provided (used) by financing activities 36.9 (75.3 ) 4.1 16.3 (18.0 ) Effect of exchange rate changes on cash — — (0.4 ) — (0.4 ) Increase in cash and cash equivalents — (0.1 ) 1.2 — 1.1 Cash and cash equivalents at beginning of period — 0.1 48.3 — 48.4 Cash and cash equivalents at end of period $ — $ — $ 49.5 $ — $ 49.5

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event In October 2017, the Company completed the acquisition of Heads & All Threads Ltd. (“HAT”). Headquartered in Birmingham, United Kingdom, HAT is a leading European supplier of supply chain management services with operations in the United Kingdom, Czech Republic, Poland, and India. HAT, which has annual revenues of approximately $35.0 million , specializes in developing vendor-managed inventory programs of fasteners, machined parts and other class C components to many end markets, including construction, automotive and various electronics manufacturing services markets. HAT is a direct complement to and will be reporting in our Supply Technologies segment from the date of acquisition.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The condensed consolidated financial statements include the accounts of Park-Ohio Industries, Inc. and its subsidiaries (collectively, “we”, “our” or the “Company”). All intercompany accounts and transactions have been eliminated in consolidation. Park-Ohio Industries, Inc. is a wholly-owned subsidiary of Park-Ohio Holdings Corp. (“Holdings”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three- and nine -month periods ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . The balance sheet at December 31, 2016 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 .
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Accounting Pronouncements Adopted and Not Yet Adopted	Accounting Pronouncements Adopted In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The ASU simplifies several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification of related amounts within the statement of cash flows. The Company adopted this ASU effective January 1, 2017. ASU 2016-09 requires prospective recognition of excess tax benefits and deficiencies resulting from share-based compensation awards vesting and exercises be recognized as a discrete income tax adjustment in the income statement. Previously, these amounts were recognized in Additional paid-in capital. In the nine months ended September 30, 2017, the Company recognized income tax expense of $0.1 million for excess tax deficiencies upon vesting of awards. In addition, ASU 2016-09 requires excess tax benefits and shortfalls to be prospectively excluded from the assumed future proceeds in the calculation of diluted shares, resulting in an insignificant increase in diluted weighted average shares outstanding for the nine months ended September 30, 2017 and an immaterial impact on earnings per share. ASU 2016-09 also requires that excess tax benefits from share-based compensation awards be reported as operating activities in the Condensed Consolidated Statements of Cash Flows. Previously, this activity was included in financing activities on the Condensed Consolidated Statements of Cash Flows. The Company has elected to apply this change on a prospective basis. This change has an immaterial impact on our Condensed Consolidated Statements of Cash Flows. Also, we elected to continue to estimate forfeitures rather than account for them as they occur. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendments in the ASU simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. The ASU is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company early adopted this guidance for any impairment test performed after January 1, 2017. Recent Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The ASU will require either retrospective application to each prior reporting period presented or modified retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is in the process of analyzing the impact of ASU 2014-09, and the related ASUs, across all its businesses. This includes performing contract reviews and reviewing current accounting policies and practices to identify potential differences that would result from applying the requirements under the new standard. The Company expects to adopt the new standard using the modified retrospective approach, under which the cumulative effect of initially applying the new guidance is recognized as an adjustment to the opening balance of retained earnings upon adoption effective January 1, 2018. We are still evaluating the impact and an estimation of the impact cannot be made at this time. In addition, the standard requires new substantial disclosures and we continue to evaluate these requirements. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amendments in the ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The FASB also is addressing measurement of credit losses on financial assets in a separate project. The ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is not permitted. The new guidance will be applied prospectively. The Company is currently evaluating the impact of adopting this guidance. In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” The ASU establishes a comprehensive new lease accounting model. The new standard: (a) clarifies the definition of a lease; (b) requires a dual approach to lease classification similar to current lease classifications; and (c) causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases with a lease term of more than twelve months. The ASU is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. The Company is currently evaluating the impact of adopting this guidance. In March 2017, the FASB issued ASU 2017-07 “Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The ASU requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The Company is planning to adopt this standard in the first quarter of 2018. The Company is currently evaluating the impact of adopting this guidance. No other recently issued ASUs are expected to have a material impact on our results of operations, financial condition or liquidity.
Segments	Our operating segments are defined as components of the enterprise for which separate financial information is available and evaluated on a regular basis by our chief operating decision maker to allocate resources and assess performance. For purposes of measuring business segment performance, the Company utilizes segment operating income, which is defined as revenues less expenses identifiable to the product lines within each segment. The Company does not allocate items that are non-operating; unusual in nature; or are corporate costs, which include but are not limited to executive and share-based compensation and corporate office costs. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs, certain non-cash items and interest expense.
Accrued Warranty Costs	The Company estimates warranty claims on products sold that may be incurred based on current and historical data. Actual warranty expense could differ from the estimates made by the Company based on product performance.
Income Taxes	The Company’s tax provision for interim periods is determined using an estimate of its annual effective income tax rate, adjusted for discrete items, if any, in each period. Each quarter, the Company updates its estimated annual effective income tax rate, and if the estimated income tax rate changes, a cumulative adjustment is made.
Commitments and Contingencies	The Company is subject to various pending and threatened legal proceedings arising in the ordinary course of business. The Company records a liability for loss contingencies in the consolidated financial statements when a loss is known or considered probable and the amount can be reasonably estimated. Our provisions are based on historical experience, current information and legal advice, and they may be adjusted in the future based on new developments. Estimating probable losses requires the analysis of multiple forecasted factors that often depend on judgments and potential actions by third parties. Although it is not possible to predict with certainty the ultimate outcome or cost of these matters, the Company believes they will not have a material adverse effect on our consolidated financial statements.

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Results by business segment	Results by business segment were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (In millions) Net sales: Supply Technologies $ 140.2 $ 122.0 $ 415.8 $ 384.8 Assembly Components 127.9 133.4 393.2 399.4 Engineered Products 84.1 57.3 237.9 185.9 $ 352.2 $ 312.7 $ 1,046.9 $ 970.1 Segment operating income: Supply Technologies $ 10.9 $ 9.7 $ 34.6 $ 30.8 Assembly Components 11.4 13.9 37.0 38.3 Engineered Products 6.0 4.0 13.5 8.6 Total segment operating income 28.3 27.6 85.1 77.7 Corporate costs (7.3 ) (6.5 ) (20.9 ) (20.3 ) Litigation settlement gain — — 3.3 — Asset impairment charge — — — (4.0 ) Operating income 21.0 21.1 67.5 53.4 Interest expense (7.8 ) (7.2 ) (23.1 ) (21.3 ) Loss on extinguishment of debt — — (11.0 ) — Income before income taxes $ 13.2 $ 13.9 $ 33.4 $ 32.1

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Components of inventory	The components of inventory consist of the following: September 30, 2017 December 31, 2016 (In millions) Finished goods $ 150.3 $ 131.4 Work in process 47.1 43.4 Raw materials and supplies 70.9 65.8 Inventories, net $ 268.3 $ 240.6

Accrued Warranty Costs (Tables)

Accrued Warranty Costs (Tables)	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Changes in product warranty liability	The following table presents changes in the Company’s product warranty liability for the nine months ended September 30, 2017 and 2016 : 2017 2016 (In millions) January 1 $ 7.1 $ 6.1 Claims paid (3.0 ) (1.7 ) Warranty expense, net 3.6 1.1 September 30 $ 7.7 $ 5.5

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consists of the following: Carrying Value at Maturity Date Interest Rate at September 30 2017 September 30, 2017 December 31, 2016 (In millions) Senior Notes due 2027 April 15, 2027 6.625 % $ 350.0 $ — Senior Notes due 2021 April 1, 2021 8.125 % — 250.0 Revolving credit facility April 17, 2022 3.08 % 100.3 132.8 Term Loan — 23.4 Industrial Equipment Group European Facilities December 21, 2021 3.25 % 28.0 26.4 Capital Leases Various Various 18.9 18.8 Other Various Various 22.1 23.6 Gross debt 519.3 475.0 Less current portion of long-term debt (14.2 ) (25.8 ) Less short-term debt (3.9 ) (5.0 ) Less unamortized debt issuance costs (8.9 ) (5.2 ) Total long-term debt, net $ 492.3 $ 439.0
Fair value of debt	The following table represents fair value information of the Notes, classified as Level 1 using estimated quoted market prices. September 30, 2017 (In millions) Carrying amount $ 350.0 Fair value $ 378.9

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option activity	tock option activity for the nine months ended September 30, 2017 is as follows: 2017 Number of Shares Weighted Average (In whole shares) Outstanding - beginning of year 38,000 $ 19.30 Granted — — Exercised (24,907 ) 21.22 Canceled or expired — — Outstanding - end of period 13,093 15.61 Options exercisable 13,093 $ 15.61
Summary of restricted share and performance share activity	A summary of Holdings' restricted share activity for the nine months ended September 30, 2017 is as follows: 2017 Time-Based Performance-Based Number of Shares Weighted Average Number of Shares Weighted Average (In whole shares) (In whole shares) Outstanding - beginning of year 216,916 $ 36.94 165,000 $ 34.78 Granted 104,670 38.41 165,000 38.10 Vested (89,404 ) 44.39 (55,000 ) 34.78 Performance-based to time-based (a) 110,000 34.78 (110,000 ) 34.78 Canceled or expired (2,000 ) 37.87 — — Outstanding - end of period 340,182 $ 34.73 165,000 $ 38.10 (a) During the first quarter of 2017, 55,000 of the performance-based restricted shares granted in 2016 fully vested based on the achievement of the performance criteria. In accordance with the grant agreements, the remaining 110,000 shares became time-based, vesting over the remaining two years of the requisite service period.

Pension and Postretirement Be28

Pension and Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Components of net periodic benefit cost	The components of net periodic benefit (income) costs recognized during interim periods were as follows: Pension Benefits Postretirement Benefits Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 2017 2016 2017 2016 (In millions) Service costs $ 0.6 $ 0.6 $ 1.9 $ 1.8 $ — $ — $ — $ — Interest costs 0.4 0.5 1.3 1.4 0.1 0.1 0.2 0.3 Expected return on plan assets (2.4 ) (2.3 ) (7.2 ) (7.1 ) — — — — Recognized net actuarial loss 0.3 0.3 0.9 0.9 — — 0.1 0.2 Net periodic benefit (income) costs $ (1.1 ) $ (0.9 ) $ (3.1 ) $ (3.0 ) $ 0.1 $ 0.1 $ 0.3 $ 0.5 Weighted average: Discount rate 3.91 % 4.13 % 3.63 % 3.80 % Expected return on plan assets 8.25 % 8.25 %

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Changes in accumulated comprehensive loss	The components of and changes in accumulated other comprehensive loss for the nine months ended September 30, 2017 and 2016 were as follows: Cumulative Translation Adjustment Pension and Postretirement Benefits Total (In millions) January 1, 2017 $ (30.8 ) $ (11.9 ) $ (42.7 ) Foreign currency translation adjustments (a) 18.9 — 18.9 Pension and OPEB activity, net of tax adjustments (b) — 0.6 0.6 September 30, 2017 $ (11.9 ) $ (11.3 ) $ (23.2 ) January 1, 2016 $ (16.9 ) $ (13.1 ) $ (30.0 ) Foreign currency translation adjustments (a) (5.3 ) — (5.3 ) Pension and OPEB activity, net of tax adjustments (b) — 0.7 0.7 September 30, 2016 $ (22.2 ) $ (12.4 ) $ (34.6 ) (a) No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently re-invested. (b) The tax adjustments are reclassified out of accumulated other comprehensive income and included in income tax expense.

Supplemental Guarantor Inform30

Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2017
Supplemental Guarantor Information [Abstract]
Condensed consolidating balance sheet	Condensed Consolidating Balance Sheets September 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 72.6 $ — $ 72.6 Accounts receivable, net — 150.6 80.8 — 231.4 Inventories, net — 190.2 78.1 — 268.3 Receivable from affiliates — — 17.2 — 17.2 Other current assets 0.6 40.2 29.5 — 70.3 Total current assets 0.6 381.0 278.2 — 659.8 Investments in subsidiaries 546.4 249.4 — (795.8 ) — Intercompany advances 300.1 83.0 107.2 (490.3 ) — Property, plant and equipment, net 6.1 101.5 66.1 — 173.7 Goodwill — 58.9 33.1 — 92.0 Intangible assets, net — 61.3 36.2 — 97.5 Other long-term assets 67.1 4.6 7.6 — 79.3 Total assets $ 920.3 $ 939.7 $ 528.4 $ (1,286.1 ) $ 1,102.3 LIABILITIES AND SHAREHOLDER'S EQUITY Current liabilities: Trade accounts payable $ — $ 122.8 $ 46.6 $ — $ 169.4 Payable to affiliates — — 7.1 — 7.1 Current portion of long-term and short-term debt — 6.6 11.5 — 18.1 Accrued expenses and other 13.4 35.0 40.8 — 89.2 Total current liabilities 13.4 164.4 106.0 — 283.8 Long-term liabilities, less current portion: Debt 442.7 10.6 39.0 — 492.3 Deferred income taxes — 19.4 9.6 — 29.0 Other long-term liabilities 15.2 1.0 5.1 — 21.3 Total long-term liabilities 457.9 31.0 53.7 — 542.6 Intercompany advances 173.1 226.6 90.6 (490.3 ) — Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity 265.5 517.7 267.7 (785.4 ) 265.5 Noncontrolling interests 10.4 — 10.4 (10.4 ) 10.4 Total equity 275.9 517.7 278.1 (795.8 ) 275.9 Total liabilities and equity $ 920.3 $ 939.7 $ 528.4 $ (1,286.1 ) $ 1,102.3 Condensed Consolidating Balance Sheets December 31, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Reclassifications/ Eliminations Consolidated (In millions) ASSETS Current assets: Cash and cash equivalents $ — $ — $ 54.4 $ — $ 54.4 Accounts receivable, net — 125.2 69.2 — 194.4 Inventories, net — 172.9 67.7 — 240.6 Receivable from affiliates — — 12.8 — 12.8 Other current assets 0.7 28.3 24.3 — 53.3 Total current assets 0.7 326.4 228.4 — 555.5 Investments in subsidiaries 492.8 213.8 — (706.6 ) — Intercompany advances 296.5 78.1 110.5 (485.1 ) — Property, plant and equipment, net 6.2 98.2 65.2 — 169.6 Goodwill — 56.8 29.8 — 86.6 Intangible assets, net — 64.8 31.8 — 96.6 Other long-term assets 62.8 4.5 4.0 — 71.3 Total assets $ 859.0 $ 842.6 $ 469.7 $ (1,191.7 ) $ 979.6 LIABILITIES AND SHAREHOLDER'S EQUITY Current liabilities: Trade accounts payable $ — $ 100.3 $ 33.4 $ — $ 133.7 Payable to affiliates — — 7.0 — 7.0 Current portion of long-term and short-term debt 13.2 6.4 11.2 — 30.8 Accrued expenses and other 10.5 36.8 31.3 — 78.6 Total current liabilities 23.7 143.5 82.9 — 250.1 Long-term liabilities, less current portion: Debt 389.2 12.2 37.6 — 439.0 Deferred income taxes — 20.4 8.6 — 29.0 Other long-term liabilities 16.1 8.5 5.2 — 29.8 Total long-term liabilities 405.3 41.1 51.4 — 497.8 Intercompany advances 198.3 192.2 94.6 (485.1 ) — Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity 221.7 465.8 230.8 (696.6 ) 221.7 Noncontrolling interests 10.0 — 10.0 (10.0 ) 10.0 Total equity 231.7 465.8 240.8 (706.6 ) 231.7 Total liabilities and shareholder's equity $ 859.0 $ 842.6 $ 469.7 $ (1,191.7 ) $ 979.6
Consolidating statement of operations	Consolidating Statements of Income (Loss) Nine Months Ended September 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Net sales $ — $ 774.6 $ 272.3 $ — $ 1,046.9 Cost of sales — 660.1 213.8 — 873.9 Gross profit — 114.5 58.5 — 173.0 Selling, general and administrative expenses 19.5 55.7 33.6 — 108.8 Litigation settlement gain — (3.3 ) — — (3.3 ) Income (loss) from subsidiaries 75.4 16.1 — (91.5 ) — Operating income (loss) 55.9 78.2 24.9 (91.5 ) 67.5 Interest expense 21.1 — 2.0 — 23.1 Loss on debt extinguishment 11.0 — — — 11.0 Income (loss) before income taxes 23.8 78.2 22.9 (91.5 ) 33.4 Income tax expense — 4.0 5.6 — 9.6 Net income (loss) 23.8 74.2 17.3 (91.5 ) 23.8 Net (income) loss attributable to noncontrolling interests (0.7 ) — (0.7 ) 0.7 (0.7 ) Net income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 23.1 $ 74.2 $ 16.6 $ (90.8 ) $ 23.1 Other comprehensive income (loss) (see note 12): Net income (loss) $ 23.8 $ 74.2 $ 17.3 $ (91.5 ) $ 23.8 Foreign currency translation adjustment 18.9 — 18.9 (18.9 ) 18.9 Pension and OPEB activity, net of tax adjustments 0.6 0.6 — (0.6 ) 0.6 Comprehensive income (loss), net of tax 43.3 74.8 36.2 (111.0 ) 43.3 Comprehensive (income) loss attributable to noncontrolling interest (0.7 ) — (0.7 ) 0.7 (0.7 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 42.6 $ 74.8 $ 35.5 $ (110.3 ) $ 42.6 Consolidating Statements of Income (Loss) and Comprehensive Income (Loss) Nine Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Net sales $ — $ 751.7 $ 218.4 $ — $ 970.1 Cost of sales — 645.8 167.9 — 813.7 Gross profit — 105.9 50.5 — 156.4 Selling, general and administrative expenses 18.0 54.3 26.7 — 99.0 Asset impairment — 4.0 — — 4.0 Income (loss) from subsidiaries 64.2 13.9 — (78.1 ) — Operating income (loss) 46.2 61.5 23.8 (78.1 ) 53.4 Interest expense 20.2 — 1.1 — 21.3 Income (loss) before income taxes 26.0 61.5 22.7 (78.1 ) 32.1 Income tax (benefit) expense — (1.3 ) 7.4 — 6.1 Net income (loss) 26.0 62.8 15.3 (78.1 ) 26.0 Net income attributable to noncontrolling interests (0.3 ) — (0.3 ) 0.3 (0.3 ) Net income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 25.7 $ 62.8 $ 15.0 $ (77.8 ) $ 25.7 Other comprehensive income (loss) (see note 12): Net income (loss) $ 26.0 $ 62.8 $ 15.3 $ (78.1 ) $ 26.0 Foreign currency translation adjustment (5.3 ) — (5.3 ) 5.3 (5.3 ) Pension and OPEB activity, net of tax adjustments 0.7 0.4 — (0.4 ) 0.7 Comprehensive income (loss), net of tax 21.4 63.2 10.0 (73.2 ) 21.4 Comprehensive income attributable to noncontrolling interests (0.3 ) — (0.3 ) 0.3 (0.3 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 21.1 $ 63.2 $ 9.7 $ (72.9 ) $ 21.1 Consolidating Statement of Operations Three Months Ended September 30, 2017 Parent Eliminations Consolidated Net sales $ — $ 258.4 $ 93.8 $ — $ 352.2 Cost of sales — 220.6 74.4 — 295.0 Gross profit — 37.8 19.4 — 57.2 Selling, general and administrative expenses 7.0 18.4 10.8 — 36.2 Income (loss) from subsidiaries 24.6 6.8 — (31.4 ) — Operating income (loss) 17.6 26.2 8.6 (31.4 ) 21.0 Interest expense 7.2 — 0.6 — 7.8 Loss on extinguishment of debt — — — — — Income (loss) before income taxes 10.4 26.2 8.0 (31.4 ) 13.2 Income tax expense — 1.9 0.9 — 2.8 Net income (loss) 10.4 24.3 7.1 (31.4 ) 10.4 Net (income) loss attributable to noncontrolling interest (0.2 ) — (0.2 ) 0.2 (0.2 ) Net income(loss) attributable to Park-Ohio Industries Inc. common shareholder $ 10.2 $ 24.3 $ 6.9 $ (31.2 ) $ 10.2 Other comprehensive income (loss) (see note 12): Net income (loss) $ 10.4 $ 24.3 $ 7.1 $ (31.4 ) $ 10.4 Foreign currency translation adjustment 7.5 — 7.5 (7.5 ) 7.5 Pension and OPEB activity, net of tax adjustments 0.2 0.2 — (0.2 ) 0.2 Comprehensive income (loss), net of tax 18.1 24.5 14.6 (39.1 ) 18.1 Comprehensive (income) loss attributable to noncontrolling interest (0.2 ) — (0.2 ) 0.2 (0.2 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 17.9 $ 24.5 $ 14.4 $ (38.9 ) $ 17.9 Consolidating Statements of Income (Loss) and Comprehensive Income (Loss) Three Months Ended September 30, 2016 Parent Combined Combined Eliminations Consolidated Net sales $ — $ 242.1 $ 70.6 $ — $ 312.7 Cost of sales — 205.3 53.1 — 258.4 Gross profit — 36.8 17.5 — 54.3 Selling, general and administrative expenses 7.7 17.8 7.7 — 33.2 Income (loss) from subsidiaries 28.4 5.8 — (34.2 ) — Operating income (loss) 20.7 24.8 9.8 (34.2 ) 21.1 Interest expense 6.8 — 0.4 — 7.2 Income (loss) before income taxes 13.9 24.8 9.4 (34.2 ) 13.9 Income tax expense — (3.0 ) 3.0 — — Net income (loss) $ 13.9 $ 27.8 $ 6.4 $ (34.2 ) $ 13.9 Net income attributable to noncontrolling interest (0.3 ) — (0.3 ) 0.3 (0.3 ) Net income attributable to Park-Ohio Industries Inc. common shareholder $ 13.6 $ 27.8 $ 6.1 $ (33.9 ) $ 13.6 Other comprehensive income (loss) (see note 12): Net income (loss) $ 13.9 $ 27.8 $ 6.4 $ (34.2 ) $ 13.9 Foreign currency translation adjustment (1.3 ) — (1.3 ) 1.3 (1.3 ) Pension and OPEB activity, net of tax adjustments 0.3 — — — 0.3 Comprehensive income (loss), net of tax 12.9 27.8 5.1 (32.9 ) 12.9 Comprehensive income attributable to noncontrolling interest (0.3 ) — (0.3 ) 0.3 (0.3 ) Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder $ 12.6 $ 27.8 $ 4.8 $ (32.6 ) $ 12.6
Condensed consolidating statement of cash flows	Condensed Consolidating Statements of Cash Flows Nine Months Ended September 30, 2017 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) OPERATING ACTIVITIES Net cash (used) provided by operating activities $ (32.8 ) $ 36.2 $ 18.9 $ 1.0 $ 23.3 INVESTING ACTIVITIES Purchases of property, plant and equipment (0.3 ) (13.7 ) (4.9 ) — (18.9 ) Business acquisition — (10.5 ) — — (10.5 ) Net cash used in investing activities (0.3 ) (24.2 ) (4.9 ) — (29.4 ) FINANCING ACTIVITIES Intercompany account change 9.5 (10.6 ) 2.1 (1.0 ) — Payments on revolving credit facility, net (32.5 ) — — — (32.5 ) Payments on term loans and other debt (23.4 ) (0.4 ) (3.9 ) — (27.7 ) Proceeds from capital lease facilities, net — (1.0 ) 1.1 — 0.1 Issuance of 6.625% Senior Notes due 2027 350.0 — — — 350.0 Debt financing costs (7.5 ) — — — (7.5 ) Redemption of 8.125% Senior Notes due 2021 (250.0 ) — — — (250.0 ) Premium on early extinguishment of debt (8.0 ) — — — (8.0 ) Dividend paid to Parent (5.0 ) — — — (5.0 ) Dividend — — (0.2 ) — (0.2 ) Net cash provided (used) by financing activities 33.1 (12.0 ) (0.9 ) (1.0 ) 19.2 Effect of exchange rate changes on cash — — 5.1 — 5.1 Increase in cash and cash equivalents — — 18.2 — 18.2 Cash and cash equivalents at beginning of period — — 54.4 — 54.4 Cash and cash equivalents at end of period $ — $ — $ 72.6 $ — $ 72.6 Condensed Consolidating Statements of Nine Months Ended September 30, 2016 Parent Combined Guarantor Subsidiaries Combined Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) OPERATING ACTIVITIES Net cash (used) provided by operating activities $ (36.8 ) $ 81.5 $ 11.4 $ (16.3 ) $ 39.8 INVESTING ACTIVITIES Purchases of property, plant and equipment (0.1 ) (6.3 ) (13.9 ) — (20.3 ) Net cash used in investing activities (0.1 ) (6.3 ) (13.9 ) — (20.3 ) FINANCING ACTIVITIES Intercompany account change 57.7 (74.4 ) 0.4 16.3 — Payments on revolving credit facility, net (17.4 ) — — — (17.4 ) Payments on term loans and other debt (3.4 ) — — — (3.4 ) Proceeds from term loans and other debt — 1.3 6.0 — 7.3 Payments on capital leases, net — (2.2 ) (0.3 ) — (2.5 ) Payment of acquisition earn-out — — (2.0 ) — (2.0 ) Net cash provided (used) by financing activities 36.9 (75.3 ) 4.1 16.3 (18.0 ) Effect of exchange rate changes on cash — — (0.4 ) — (0.4 ) Increase in cash and cash equivalents — (0.1 ) 1.2 — 1.1 Cash and cash equivalents at beginning of period — 0.1 48.3 — 48.4 Cash and cash equivalents at end of period $ — $ — $ 49.5 $ — $ 49.5

New Accounting Pronouncements -

New Accounting Pronouncements - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Accounting Changes and Error Corrections [Abstract]
Share-based compensation, excess tax benefit	$ 0.1

Segments (Schedule of Segment I

Segments (Schedule of Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales:
Net sales	$ 352.2		$ 312.7		$ 1,046.9	$ 970.1
Segment operating income:
Operating income	21		21.1		67.5	53.4
Litigation settlement gain	0	$ 3.3	0		3.3	0
Asset impairment charge	0		0	$ (4)	0	(4)
Interest expense	(7.8)		(7.2)		(23.1)	(21.3)
Loss on extinguishment of debt	0		0		(11)	0
Income (loss) before income taxes	13.2		13.9		33.4	32.1
Operating Segments
Net sales:
Net sales	352.2		312.7		1,046.9	970.1
Segment operating income:
Operating income	28.3		27.6		85.1	77.7
Operating Segments | Supply Technologies
Net sales:
Net sales	140.2		122		415.8	384.8
Segment operating income:
Operating income	10.9		9.7		34.6	30.8
Operating Segments | Assembly Components
Net sales:
Net sales	127.9		133.4		393.2	399.4
Segment operating income:
Operating income	11.4		13.9		37	38.3
Operating Segments | Engineered Products
Net sales:
Net sales	84.1		57.3		237.9	185.9
Segment operating income:
Operating income	6		4		13.5	8.6
Segment Reconciling Items
Segment operating income:
Operating income	21		21.1		67.5	53.4
Corporate costs	(7.3)		(6.5)		(20.9)	(20.3)
Litigation settlement gain	0		0		3.3	0
Asset impairment charge	0		0		0	(4)
Interest expense	(7.8)		(7.2)		(23.1)	(21.3)
Loss on extinguishment of debt	$ 0		$ 0		$ (11)	$ 0

Acquisitions (Details)

Acquisitions (Details) - USD ($)	1 Months Ended		9 Months Ended
	Apr. 30, 2017	Dec. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Business acquisition			$ 10,500,000	$ 0
Goodwill		$ 86,600,000	92,000,000
Aero-Missile Components Inc
Business Acquisition [Line Items]
Business acquisition	$ 10,500,000
Goodwill			2,100,000
GH Electrotermia S.A.
Business Acquisition [Line Items]
Business acquisition		23,400,000
Cash acquired		6,300,000
Deb assumed in acquisition		13,900,000
Contingent consideration, fair value of earn-out (up to)		$ 2,100,000
Estimated fair value of the earn-out			$ 400,000

Inventories (Components of Inve

Inventories (Components of Inventory) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Components of inventory
Finished goods	$ 150.3	$ 131.4
Work in process	47.1	43.4
Raw materials and supplies	70.9	65.8
Inventories, net	$ 268.3	$ 240.6

Accrued Warranty Costs (Details

Accrued Warranty Costs (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Changes in product warranty liability
Balance at beginning of period	$ 7.1	$ 6.1
Claims paid	(3)	(1.7)
Warranty expense, net	3.6	1.1
Balance at end of period	$ 7.7	$ 5.5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	28.70%	19.00%
Reversal of previous income tax accruals	$ 1.4		$ 4

Financing Arrangements (Schedul

Financing Arrangements (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Apr. 17, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Gross debt	$ 519.3		$ 475
Less current portion of long-term debt	(14.2)		(25.8)
Less short-term debt	(3.9)		(5)
Less unamortized debt issuance costs	(8.9)		(5.2)
Total long-term debt, net	$ 492.3		439
Revolving credit facility
Debt Instrument [Line Items]
Stated interest rate	3.08%
Gross debt	$ 100.3		132.8
Term Loan
Debt Instrument [Line Items]
Stated interest rate
Gross debt	$ 0		23.4
Industrial Equipment Group European Facilities
Debt Instrument [Line Items]
Stated interest rate	3.25%
Gross debt	$ 28		26.4
Senior Notes
Debt Instrument [Line Items]
Stated interest rate	8.125%	8.125%
Gross debt	$ 0		250
Capital Leases
Debt Instrument [Line Items]
Gross debt	18.9		18.8
Other
Debt Instrument [Line Items]
Gross debt	$ 22.1		23.6
Senior Notes 6.625% Due 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.625%
Gross debt	$ 350		$ 0

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details) - USD ($)	Apr. 17, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 21, 2016	Oct. 21, 2015	Aug. 13, 2015
Line of Credit Facility [Line Items]
Payments on term loans and other debt				$ 27,700,000	$ 3,400,000
Loss on extinguishment of debt		$ 0	$ 0	11,000,000	0
Premium on extinguishment of debt				8,000,000	0
Fees and expenses related to extinguishment of debt				7,500,000	$ 0
Arkansas Development Finance Authority | Southwest Steel Processing LLC
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 11,000,000
Amount drawn		5,600,000		5,600,000
Machinery and Equipment
Line of Credit Facility [Line Items]
Capital lease obligations		$ 18,900,000		$ 18,900,000
Maximum
Line of Credit Facility [Line Items]
Capital lease obligations								$ 50,000,000
Term Loan
Line of Credit Facility [Line Items]
Stated interest rate
Payments on term loans and other debt	$ 250,000,000
Revolving credit facility
Line of Credit Facility [Line Items]
Stated interest rate		3.08%		3.08%
Industrial Equipment Group European Facilities
Line of Credit Facility [Line Items]
Stated interest rate		3.25%		3.25%
Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate	8.125%	8.125%		8.125%
Line of Credit | Industrial Equipment Group European Facilities | Banco Bilbao Vizcaya Argentaria, S.A.
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 28,000,000
Amount drawn		$ 28,000,000		$ 28,000,000
Senior Notes due 2027 | Senior Notes
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 350,000,000
Stated interest rate	6.625%
Seventh Amendment Credit Agreement | Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 350,000,000
Option to increase capacity	100,000,000
Senior Notes Due 2021 And Seventh Amendment To Credit Facility [Member]
Line of Credit Facility [Line Items]
Loss on extinguishment of debt	11,000,000
Premium on extinguishment of debt	8,000,000
Write off of debt issuance cost	2,500,000
Fees and expenses related to extinguishment of debt	$ 500,000
Financing Agreement | Line of Credit | Revolving credit facility | Banco Bilbao Vizcaya Argentaria, S.A.
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 11,800,000
Amount drawn		$ 0		$ 0

Financing Arrangements (Fair Va

Financing Arrangements (Fair Value of Debt) (Details) - Level 1 $ in Millions	Sep. 30, 2017USD ($)
Carrying amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount	$ 350
Fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 378.9

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity) (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Number of Shares
Outstanding - beginning of year (in shares) | shares	38,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	(24,907)
Canceled or expired (in shares) | shares	0
Outstanding - end of period (in shares) | shares	13,093
Options exercisable (in shares) | shares	13,093
Weighted Average Exercise Price
Outstanding - beginning of year (in dollars per share) | $ / shares	$ 19.30
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	21.22
Canceled or expired (in dollars per share) | $ / shares	0
Outstanding - end of period (in dollars per share) | $ / shares	15.61
Options exercisable (in dollars per share) | $ / shares	$ 15.61

Stock-Based Compensation (Sum41

Stock-Based Compensation (Summary of Restricted Share Activity) (Details) - $ / shares	3 Months Ended	9 Months Ended
	Mar. 31, 2017	Sep. 30, 2017
Performance Shares
Number of Shares
Vested (in shares)	(55,000)
Time-Based | Restricted Stock
Number of Shares
Outstanding - beginning of years (in shares)	216,916	216,916
Granted (in shares)		104,670
Vested (in shares)		(89,404)
Canceled or expired (in shares)		(2,000)
Outstanding - end of periods (in shares)		340,182
Weighted Average Grant Date Fair Value
Outstanding - beginning of year (in dollars per share)	$ 36.94	$ 36.94
Granted (in dollars per share)		38.41
Vested (in dollars per share)		44.39
Canceled or expired (in dollars per share)		37.87
Outstanding - end of year (in dollars per share)		$ 34.73
Vesting period		2 years
Time-Based | Restricted Stock and Performance Shares
Number of Shares
Performance- to time-based (in shares)		110,000
Weighted Average Grant Date Fair Value
Performance- to time-based (in dollars per share)		$ 34.78
Performance-Based | Restricted Stock
Number of Shares
Outstanding - beginning of years (in shares)	165,000	165,000
Granted (in shares)		165,000
Vested (in shares)		(55,000)
Performance- to time-based (in shares)		110,000
Canceled or expired (in shares)		0
Outstanding - end of periods (in shares)		165,000
Weighted Average Grant Date Fair Value
Outstanding - beginning of year (in dollars per share)	$ 34.78	$ 34.78
Granted (in dollars per share)		38.10
Vested (in dollars per share)		34.78
Canceled or expired (in dollars per share)		0
Outstanding - end of year (in dollars per share)		$ 38.10
Performance-Based | Performance Shares and Service Time Shares
Number of Shares
Performance- to time-based (in shares)		(110,000)
Weighted Average Grant Date Fair Value
Performance- to time-based (in dollars per share)		$ 34.78

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense	$ 6.3	$ 8.1
Unrecognized compensation cost related to non-vested stock-based compensation	$ 11.4
Weighted average period	1 year 9 months

Commitments, Contingencies an43

Commitments, Contingencies and Litigation Settlement (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended			6 Months Ended	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2013	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2013	Sep. 30, 2017	Sep. 30, 2016	Mar. 28, 2017
Loss Contingencies [Line Items]
Litigation settlement gain				$ 0	$ 3.3	$ 0		$ 3.3	$ 0
TMK IPSCO
Loss Contingencies [Line Items]
Direct damages sought							$ 10
Damages awarded		$ 2.2	$ 5.2
Loss contingency accrual										$ 7.3
TMK IPSCO | Settled Litigation
Loss Contingencies [Line Items]
Payments for legal settlements	$ 4

Pension and Postretirement Be44

Pension and Postretirement Benefits (Components of net periodic benefit) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Pension Benefits
Components of net periodic benefit cost
Service costs	$ 0.6	$ 0.6	$ 1.9	$ 1.8
Interest costs	0.4	0.5	1.3	1.4
Expected return on plan assets	(2.4)	(2.3)	(7.2)	(7.1)
Recognized net actuarial loss	0.3	0.3	0.9	0.9
Net periodic benefit (income) costs	(1.1)	(0.9)	$ (3.1)	$ (3)
Weighted average:
Discount rate			3.91%	4.13%
Expected return on plan assets			8.25%	8.25%
Postretirement Benefits
Components of net periodic benefit cost
Service costs	0	0	$ 0	$ 0
Interest costs	0.1	0.1	0.2	0.3
Expected return on plan assets	0	0	0	0
Recognized net actuarial loss	0	0	0.1	0.2
Net periodic benefit (income) costs	$ 0.1	$ 0.1	$ 0.3	$ 0.5
Weighted average:
Discount rate			3.63%	3.80%

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Loss (Components of accumulated comprehensive loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 231.7
Other comprehensive loss adjustments	$ 7.7	$ (1)	19.5	$ (4.6)
Ending balance	275.9		275.9
Cumulative Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(30.8)	(16.9)
Other comprehensive loss adjustments			18.9	(5.3)
Ending balance	(11.9)	(22.2)	(11.9)	(22.2)
Pension and Postretirement Benefits
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(11.9)	(13.1)
Other comprehensive loss adjustments			0.6	0.7
Ending balance	(11.3)	(12.4)	(11.3)	(12.4)
Total
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(42.7)	(30)
Ending balance	$ (23.2)	$ (34.6)	$ (23.2)	$ (34.6)

Asset Impairment (Details)

Asset Impairment (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Asset impairment charge	$ 0	$ 0	$ 4	$ 0	$ 4

Supplemental Guarantor Inform47

Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 72.6	$ 54.4	$ 49.5	$ 48.4
Accounts receivable, net	231.4	194.4
Inventories, net	268.3	240.6
Receivable from affiliates	17.2	12.8
Other current assets	70.3	53.3
Total current assets	659.8	555.5
Investments in subsidiaries	0	0
Intercompany advances	0	0
Property, plant and equipment, net	173.7	169.6
Goodwill	92	86.6
Intangible assets, net	97.5	96.6
Other long-term assets	79.3	71.3
Total assets	1,102.3	979.6
Current liabilities:
Trade accounts payable	169.4	133.7
Payable to affiliates	7.1	7
Current portion of long-term debt and short-term debt	18.1	30.8
Accrued expenses and other	89.2	78.6
Total current liabilities	283.8	250.1
Long-term liabilities, less current portion:
Debt	492.3	439
Deferred income taxes	29	29
Other long-term liabilities	21.3	29.8
Total long-term liabilities	542.6	497.8
Intercompany advances	0	0
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	265.5	221.7
Noncontrolling interests	10.4	10
Total equity	275.9	231.7
Total liabilities and shareholder's equity	1,102.3	979.6
Reportable Legal Entities | Parent
Current assets:
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Inventories, net	0	0
Receivable from affiliates	0	0
Other current assets	0.6	0.7
Total current assets	0.6	0.7
Investments in subsidiaries	546.4	492.8
Intercompany advances	300.1	296.5
Property, plant and equipment, net	6.1	6.2
Goodwill	0	0
Intangible assets, net	0	0
Other long-term assets	67.1	62.8
Total assets	920.3	859
Current liabilities:
Trade accounts payable	0	0
Payable to affiliates	0	0
Current portion of long-term debt and short-term debt	0	13.2
Accrued expenses and other	13.4	10.5
Total current liabilities	13.4	23.7
Long-term liabilities, less current portion:
Debt	442.7	389.2
Deferred income taxes	0	0
Other long-term liabilities	15.2	16.1
Total long-term liabilities	457.9	405.3
Intercompany advances	173.1	198.3
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	265.5	221.7
Noncontrolling interests	10.4	10
Total equity	275.9	231.7
Total liabilities and shareholder's equity	920.3	859
Reportable Legal Entities | Combined Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	0	0	0	0.1
Accounts receivable, net	150.6	125.2
Inventories, net	190.2	172.9
Receivable from affiliates	0	0
Other current assets	40.2	28.3
Total current assets	381	326.4
Investments in subsidiaries	249.4	213.8
Intercompany advances	83	78.1
Property, plant and equipment, net	101.5	98.2
Goodwill	58.9	56.8
Intangible assets, net	61.3	64.8
Other long-term assets	4.6	4.5
Total assets	939.7	842.6
Current liabilities:
Trade accounts payable	122.8	100.3
Payable to affiliates	0	0
Current portion of long-term debt and short-term debt	6.6	6.4
Accrued expenses and other	35	36.8
Total current liabilities	164.4	143.5
Long-term liabilities, less current portion:
Debt	10.6	12.2
Deferred income taxes	19.4	20.4
Other long-term liabilities	1	8.5
Total long-term liabilities	31	41.1
Intercompany advances	226.6	192.2
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	517.7	465.8
Noncontrolling interests	0	0
Total equity	517.7	465.8
Total liabilities and shareholder's equity	939.7	842.6
Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	72.6	54.4	49.5	48.3
Accounts receivable, net	80.8	69.2
Inventories, net	78.1	67.7
Receivable from affiliates	17.2	12.8
Other current assets	29.5	24.3
Total current assets	278.2	228.4
Investments in subsidiaries	0	0
Intercompany advances	107.2	110.5
Property, plant and equipment, net	66.1	65.2
Goodwill	33.1	29.8
Intangible assets, net	36.2	31.8
Other long-term assets	7.6	4
Total assets	528.4	469.7
Current liabilities:
Trade accounts payable	46.6	33.4
Payable to affiliates	7.1	7
Current portion of long-term debt and short-term debt	11.5	11.2
Accrued expenses and other	40.8	31.3
Total current liabilities	106	82.9
Long-term liabilities, less current portion:
Debt	39	37.6
Deferred income taxes	9.6	8.6
Other long-term liabilities	5.1	5.2
Total long-term liabilities	53.7	51.4
Intercompany advances	90.6	94.6
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	267.7	230.8
Noncontrolling interests	10.4	10
Total equity	278.1	240.8
Total liabilities and shareholder's equity	528.4	469.7
Reclassifications/ Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	0	0
Inventories, net	0	0
Receivable from affiliates	0	0
Other current assets	0	0
Total current assets	0	0
Investments in subsidiaries	(795.8)	(706.6)
Intercompany advances	(490.3)	(485.1)
Property, plant and equipment, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Other long-term assets	0	0
Total assets	(1,286.1)	(1,191.7)
Current liabilities:
Trade accounts payable	0	0
Payable to affiliates	0	0
Current portion of long-term debt and short-term debt	0	0
Accrued expenses and other	0	0
Total current liabilities	0	0
Long-term liabilities, less current portion:
Debt	0	0
Deferred income taxes	0	0
Other long-term liabilities	0	0
Total long-term liabilities	0	0
Intercompany advances	(490.3)	(485.1)
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	(785.4)	(696.6)
Noncontrolling interests	(10.4)	(10)
Total equity	(795.8)	(706.6)
Total liabilities and shareholder's equity	$ (1,286.1)	$ (1,191.7)

Supplemental Guarantor Inform48

Supplemental Guarantor Information (Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Consolidating statement of operations
Net sales	$ 352.2		$ 312.7		$ 1,046.9	$ 970.1
Cost of sales	295		258.4		873.9	813.7
Gross profit	57.2		54.3		173	156.4
Selling, general and administrative expenses	36.2		33.2		108.8	99
Asset impairment	0		0	$ 4	0	4
Litigation settlement gain	0	$ (3.3)	0		(3.3)	0
Income (loss) from subsidiaries	0		0		0	0
Operating income (loss)	21		21.1		67.5	53.4
Interest expense	7.8		7.2		23.1	21.3
Loss on extinguishment of debt	0		0		11	0
Income (loss) before income taxes	13.2		13.9		33.4	32.1
Income tax expense	2.8		0		9.6	6.1
Net income (loss)	10.4		13.9		23.8	26
Net (income) loss attributable to noncontrolling interests	(0.2)		(0.3)		(0.7)	(0.3)
Net income attributable to Park-Ohio Industries Inc. common shareholder	10.2		13.6		23.1	25.7
Other comprehensive income (loss)
Foreign currency translation adjustment	7.5		(1.3)		18.9	(5.3)
Pension and OPEB activity, net of tax adjustments	0.2		0.3		0.6	0.7
Total comprehensive income, net of tax	18.1		12.9		43.3	21.4
Comprehensive (income) loss attributable to noncontrolling interest	(0.2)		(0.3)		(0.7)	(0.3)
Comprehensive income attributable to Park-Ohio Industries Inc. common shareholder	17.9		12.6		42.6	21.1
Reportable Legal Entities | Parent
Consolidating statement of operations
Net sales	0		0		0	0
Cost of sales	0		0		0	0
Gross profit	0		0		0	0
Selling, general and administrative expenses	7		7.7		19.5	18
Asset impairment						0
Litigation settlement gain					0
Income (loss) from subsidiaries	24.6		28.4		75.4	64.2
Operating income (loss)	17.6		20.7		55.9	46.2
Interest expense	7.2		6.8		21.1	20.2
Loss on extinguishment of debt	0				11
Income (loss) before income taxes	10.4		13.9		23.8	26
Income tax expense	0		0		0	0
Net income (loss)	10.4		13.9		23.8	26
Net (income) loss attributable to noncontrolling interests	(0.2)		(0.3)		(0.7)	(0.3)
Net income attributable to Park-Ohio Industries Inc. common shareholder	10.2		13.6		23.1	25.7
Other comprehensive income (loss)
Foreign currency translation adjustment	7.5		(1.3)		18.9	(5.3)
Pension and OPEB activity, net of tax adjustments	0.2		0.3		0.6	0.7
Total comprehensive income, net of tax	18.1		12.9		43.3	21.4
Comprehensive (income) loss attributable to noncontrolling interest	(0.2)		(0.3)		(0.7)	(0.3)
Comprehensive income attributable to Park-Ohio Industries Inc. common shareholder	17.9		12.6		42.6	21.1
Reportable Legal Entities | Combined Guarantor Subsidiaries
Consolidating statement of operations
Net sales	258.4		242.1		774.6	751.7
Cost of sales	220.6		205.3		660.1	645.8
Gross profit	37.8		36.8		114.5	105.9
Selling, general and administrative expenses	18.4		17.8		55.7	54.3
Asset impairment						4
Litigation settlement gain					(3.3)
Income (loss) from subsidiaries	6.8		5.8		16.1	13.9
Operating income (loss)	26.2		24.8		78.2	61.5
Interest expense	0		0		0	0
Loss on extinguishment of debt	0				0
Income (loss) before income taxes	26.2		24.8		78.2	61.5
Income tax expense	1.9		(3)		4	(1.3)
Net income (loss)	24.3		27.8		74.2	62.8
Net (income) loss attributable to noncontrolling interests	0		0		0	0
Net income attributable to Park-Ohio Industries Inc. common shareholder	24.3		27.8		74.2	62.8
Other comprehensive income (loss)
Foreign currency translation adjustment	0		0		0	0
Pension and OPEB activity, net of tax adjustments	0.2		0		0.6	0.4
Total comprehensive income, net of tax	24.5		27.8		74.8	63.2
Comprehensive (income) loss attributable to noncontrolling interest	0		0		0	0
Comprehensive income attributable to Park-Ohio Industries Inc. common shareholder	24.5		27.8		74.8	63.2
Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
Consolidating statement of operations
Net sales	93.8		70.6		272.3	218.4
Cost of sales	74.4		53.1		213.8	167.9
Gross profit	19.4		17.5		58.5	50.5
Selling, general and administrative expenses	10.8		7.7		33.6	26.7
Asset impairment						0
Litigation settlement gain					0
Income (loss) from subsidiaries	0		0		0	0
Operating income (loss)	8.6		9.8		24.9	23.8
Interest expense	0.6		0.4		2	1.1
Loss on extinguishment of debt	0				0
Income (loss) before income taxes	8		9.4		22.9	22.7
Income tax expense	0.9		3		5.6	7.4
Net income (loss)	7.1		6.4		17.3	15.3
Net (income) loss attributable to noncontrolling interests	(0.2)		(0.3)		(0.7)	(0.3)
Net income attributable to Park-Ohio Industries Inc. common shareholder	6.9		6.1		16.6	15
Other comprehensive income (loss)
Foreign currency translation adjustment	7.5		(1.3)		18.9	(5.3)
Pension and OPEB activity, net of tax adjustments	0		0		0	0
Total comprehensive income, net of tax	14.6		5.1		36.2	10
Comprehensive (income) loss attributable to noncontrolling interest	(0.2)		(0.3)		(0.7)	(0.3)
Comprehensive income attributable to Park-Ohio Industries Inc. common shareholder	14.4		4.8		35.5	9.7
Reclassifications/ Eliminations
Consolidating statement of operations
Net sales	0		0		0	0
Cost of sales	0		0		0	0
Gross profit	0		0		0	0
Selling, general and administrative expenses	0		0		0	0
Asset impairment						0
Litigation settlement gain					0
Income (loss) from subsidiaries	(31.4)		(34.2)		(91.5)	(78.1)
Operating income (loss)	(31.4)		(34.2)		(91.5)	(78.1)
Interest expense	0		0		0	0
Loss on extinguishment of debt	0				0
Income (loss) before income taxes	(31.4)		(34.2)		(91.5)	(78.1)
Income tax expense	0		0		0	0
Net income (loss)	(31.4)		(34.2)		(91.5)	(78.1)
Net (income) loss attributable to noncontrolling interests	0.2		0.3		0.7	0.3
Net income attributable to Park-Ohio Industries Inc. common shareholder	(31.2)		(33.9)		(90.8)	(77.8)
Other comprehensive income (loss)
Foreign currency translation adjustment	(7.5)		1.3		(18.9)	5.3
Pension and OPEB activity, net of tax adjustments	(0.2)		0		(0.6)	(0.4)
Total comprehensive income, net of tax	(39.1)		(32.9)		(111)	(73.2)
Comprehensive (income) loss attributable to noncontrolling interest	0.2		0.3		0.7	0.3
Comprehensive income attributable to Park-Ohio Industries Inc. common shareholder	$ (38.9)		$ (32.6)		$ (110.3)	$ (72.9)

Supplemental Guarantor Inform49

Supplemental Guarantor Information (Condensed Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Apr. 17, 2017
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	$ 23.3	$ 39.8
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(18.9)	(20.3)
Business acquisition	(10.5)	0
Net cash used by investing activities	(29.4)	(20.3)
FINANCING ACTIVITIES
Intercompany account change	0	0
Payments on revolving credit facility, net	(32.5)	(17.4)
Payments on term loans and other debt	(27.7)	(3.4)
Proceeds from term loans and other debt	0	7.3
Proceeds from capital lease facilities, net	0.1
Payments on capital leases, net		(2.5)
Issuance of 6.625% Senior Notes due 2027	350	0
Debt financing costs	(7.5)	0
Repurchase of 8.125% Senior Notes due 2021	(250)	0
Premium on early extinguishment of debt	(8)	0
Dividend paid to Parent	(5)	0
Payment of acquisition earn-out	0	(2)
Dividend	(0.2)	0
Net cash provided (used) by financing activities	19.2	(18)
Effect of exchange rate changes on cash	5.1	(0.4)
Increase (decrease) in cash and cash equivalents	18.2	1.1
Cash and cash equivalents at beginning of period	54.4	48.4
Cash and cash equivalents at end of period	$ 72.6	49.5
Senior Notes
Condensed Financial Statements, Captions [Line Items]
Stated interest rate	8.125%		8.125%
Senior Notes 6.625% Due 2027 | Senior Notes
Condensed Financial Statements, Captions [Line Items]
Stated interest rate	6.625%
Reportable Legal Entities | Parent
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	$ (32.8)	(36.8)
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(0.3)	(0.1)
Business acquisition	0
Net cash used by investing activities	(0.3)	(0.1)
FINANCING ACTIVITIES
Intercompany account change	9.5	57.7
Payments on revolving credit facility, net	(32.5)	(17.4)
Payments on term loans and other debt	(23.4)	(3.4)
Proceeds from term loans and other debt		0
Proceeds from capital lease facilities, net	0
Payments on capital leases, net		0
Issuance of 6.625% Senior Notes due 2027	350
Debt financing costs	(7.5)
Repurchase of 8.125% Senior Notes due 2021	(250)
Premium on early extinguishment of debt	(8)
Dividend paid to Parent	(5)
Payment of acquisition earn-out		0
Dividend	0
Net cash provided (used) by financing activities	33.1	36.9
Effect of exchange rate changes on cash	0	0
Increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Reportable Legal Entities | Combined Guarantor Subsidiaries
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	36.2	81.5
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(13.7)	(6.3)
Business acquisition	(10.5)
Net cash used by investing activities	(24.2)	(6.3)
FINANCING ACTIVITIES
Intercompany account change	(10.6)	(74.4)
Payments on revolving credit facility, net	0	0
Payments on term loans and other debt	(0.4)	0
Proceeds from term loans and other debt		1.3
Proceeds from capital lease facilities, net	(1)
Payments on capital leases, net		(2.2)
Issuance of 6.625% Senior Notes due 2027	0
Debt financing costs	0
Repurchase of 8.125% Senior Notes due 2021	0
Premium on early extinguishment of debt	0
Dividend paid to Parent	0
Payment of acquisition earn-out		0
Dividend	0
Net cash provided (used) by financing activities	(12)	(75.3)
Effect of exchange rate changes on cash	0	0
Increase (decrease) in cash and cash equivalents	0	(0.1)
Cash and cash equivalents at beginning of period	0	0.1
Cash and cash equivalents at end of period	0	0
Reportable Legal Entities | Combined Non-Guarantor Subsidiaries
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	18.9	11.4
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(4.9)	(13.9)
Business acquisition	0
Net cash used by investing activities	(4.9)	(13.9)
FINANCING ACTIVITIES
Intercompany account change	2.1	0.4
Payments on revolving credit facility, net	0	0
Payments on term loans and other debt	(3.9)	0
Proceeds from term loans and other debt		6
Proceeds from capital lease facilities, net	1.1
Payments on capital leases, net		(0.3)
Issuance of 6.625% Senior Notes due 2027	0
Debt financing costs	0
Repurchase of 8.125% Senior Notes due 2021	0
Premium on early extinguishment of debt	0
Dividend paid to Parent	0
Payment of acquisition earn-out		(2)
Dividend	(0.2)
Net cash provided (used) by financing activities	(0.9)	4.1
Effect of exchange rate changes on cash	5.1	(0.4)
Increase (decrease) in cash and cash equivalents	18.2	1.2
Cash and cash equivalents at beginning of period	54.4	48.3
Cash and cash equivalents at end of period	72.6	49.5
Reclassifications/ Eliminations
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	1	(16.3)
INVESTING ACTIVITIES
Purchases of property, plant and equipment	0	0
Business acquisition	0
Net cash used by investing activities	0	0
FINANCING ACTIVITIES
Intercompany account change	(1)	16.3
Payments on revolving credit facility, net	0	0
Payments on term loans and other debt	0	0
Proceeds from term loans and other debt		0
Proceeds from capital lease facilities, net	0
Payments on capital leases, net		0
Issuance of 6.625% Senior Notes due 2027	0
Debt financing costs	0
Repurchase of 8.125% Senior Notes due 2021	0
Premium on early extinguishment of debt	0
Dividend paid to Parent	0
Payment of acquisition earn-out		0
Dividend	0
Net cash provided (used) by financing activities	(1)	16.3
Effect of exchange rate changes on cash	0	0
Increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Heads & All Threads Ltd.
Subsequent Event [Line Items]
Revenues	$ 35